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NICSA & HKIFA association profiles 4
ALFI association profile 5
Day 1: Tuesday 18th September 2012 7-13
Day 2: Wednesday 19th September 2012 15-21
Speakers 23-69
Events Calendar 91
Sponsors 92
table of contents
The presentations will be available after the conference, on this link: www.alfi.lu/Global-presentations-SQ
Follow us on our blog during the conference: www.alfievents.com
4
NICSA & HKIFA
NICSA is the leading provider of independent education and networking forums to professionals in the global investment management community. It is a network of nearly 10,000 business professionals from within the investment management industry and the firms that support the industry, including mutual fund complexes, investment management companies, custodian banks, transfer agents and independent providers of specialized products and services. The Association consists of corporate member firms with offices operating in major financial centers around the world.
Membership fees are surprisingly small, yet the benefits of membership are anything but. NICSA offers the most comprehensive range of services in the industry, allowing members to learn, network and share best practices locally, nationally and globally. www.nicsa.org
Hong Kong Investment Funds Association (“HKIFA”) is a non-profit-making organisation that represents the asset management industry in Hong Kong. It has two major roles, namely consultation and education. On consultation, HKIFA works closely with the authorities to relay the views of its members on issues that have implications for the asset management industry. On education, it spearheads initiatives to enable Hong Kong people to understand more about the risk/return characteristics of mutual funds; and to use them effectively for retirement investment and other financial planning purposes.
HKIFA has 50 fund management companies as full/overseas members. They manage about 1,270 HKSFC-authorised funds as at the end of March 2012, involving total assets of about US$1,000 billion. In addition, the Association has 69 affiliate and associate members. www.hkifa.org.hk
5
ALFI
The Association of the Luxembourg Fund Industry (ALFI), the representative body for the Luxembourg investment fund community, was founded in 1988. Today it represents over a thousand Luxembourg-domiciled investment funds, asset management companies and a wide variety of service providers including depositary banks, fund administrators, transfer agents, distributors, law firms, consultants, tax advisers, auditors and accountants, specialist IT providers and communications agencies.
Luxembourg is the largest fund domicile in Europe and its investment fund industry is a worldwide leader in cross-border fund distribution. Luxembourg-domiciled investment structures are distributed in more than 50 countries around the globe, with a particular focus on Europe, Asia, Latin America and the Middle East.
ALFI defines its mission as to “Lead industry efforts to make Luxembourg the most attractive international centre”.
Its main objectives are to:
Help members capitalise on industry trends
ALFI’s many technical committees and
working groups constantly review and analyse developments worldwide, as well as legal and regulatory changes in Luxembourg, the EU and beyond, to identify threats and opportunities for the Luxembourg fund industry.
Shape regulation An up-to-date, innovative legal and fiscal
environment is critical to defend and improve Luxembourg’s competitive position as a centre for the domiciliation, administration and distribution of investment funds. Strong relationships with regulatory authorities, the government and the legislative body enable ALFI to make an effective contribution to decision-making through relevant input for changes to the regulatory framework, implementation of European directives and regulation of new products or services.
Foster dedication to professional standards, integrity and quality
Investor trust is essential for success in
collective investment services and ALFI thus does all it can to promote high professional standards, quality products and services, and integrity. Action in this area includes organizing training at all levels, defining codes of conduct, transparency and good corporate governance, and supporting initiatives to combat money laundering.
Promote the Luxembourg investment fund industry
ALFI actively promotes the Luxembourg
investment fund industry, its products and its services. It represents the sector in financial and economic missions organised by the Luxembourg government around the world and takes an active part in meetings of the global fund industry.
ALFI is an active member of the European Fund and Asset Management Association, of the European Federation for Retirement and of the International Investment Funds Association.
For more information, visit our website at www.alfi.lu
7
programme day 1
tuesday 18th september 2012
alfi global distribution conference
distribution
UCITS
AIFMD
i n a s s o c i a t i o n w i t h
9
programme day 1 - tuesday 18th september 2012 a.m.
08.00 – 09.00 Registration & breakfast
09.00 – 09.20 Welcome & introduction
Theresa Hamacher, CFA, President, NICSA, BostonSally Wong, Chief Executive Officer, Hong Kong Investment Funds Association, Hong KongMarc Saluzzi, Chairman, ALFI, Luxembourg
09.20 – 09.25 Chairperson’s introduction
Thomas Seale, Chief Executive Officer, European Fund Administration, Luxembourg
09.25 – 09.45 Opening speech
H.E. Luc Frieden, Minister of Finance, Luxembourg Government
09.45 – 10.15 It’s not about the money…
David Schrieberg, Chief Executive Officer and Co-Founder, VitalBriefing, Luxembourg
10.15 – 10.45 Letter from America
William Lee, Managing Director/Office of the Global Chief Economist, Citi, New York
10.45 – 11.15 Refreshment break and visit of the exhibition area
11.15 – 11.45 The fund industry confronted with the regulatory challenge
Eddy Wymeersch, Professor, University of Gent, Belgium and former CESR Chairman
11.45 – 12.20 A new dawn for distribution – The impact of regulation on distributor remuneration and business models
Diana MacKay, Chief Executive Officer, MacKay Williams, London
12.20 – 12.30 Chairperson’s wrap up
12.30 – 14.30 Lunch hosted by
day 1 - lunch menu
Les buffets froids
Cocktail de crevettes, crabe à l’avocat, pamplemousse
Sélection de makis, rouleaux printaniers de saumon fumé, sauce soja, wasabi
Carré de veau fourré aux fruits secs & feuille de pak choi
Mikado de terrines en croûte
Les salades fraîcheurs
Salade Boston, céleri, champignons crus, citron
Légumes croquants, vinaigrette asiatique, nouilles japonaises
Tomates à la coriandre, chèvre frais, jus de poivrons au piment d’Espelette
Haricots verts & artichauts, huile de noisette, noix concassées, bacon grillé
Mesclun de saison, vinaigrette
Le chaud en show
Viennoise de turbot, bisque à l’américaine, riz « jambalaya »
Mignonnette de bœuf, moutarde ancienne & fines herbes, pomme au four & crème épaisse
La suggestion végétarienne
Plateaux de fromages frais & affinés, pain de campagne
Les buffets desserts
Petites crêpes servies tièdes, beurre Suzette
Tartelette sablée, raisins blancs, mousseline légère au vin doux
Palet chocolat noir « after eight »
Salpicon de poire au beurre salé, crème mascarpone
Display de fruits frais & exotiques
Café – Thé – Infusions – Petits fours
Boissons
Eaux minérales – Softs – Jus de fruits – Bières chinoises
Chardonnay Livermore Vallley 2009 San Francisco Bay
Château du Seuil Graves 2005 Grand vin de Bordeaux
11
13
programme day 1 - tuesday 18th september 2012 p.m.
14.30 – 14.35 Chairperson’s introduction
Bob Kneip, Chief Executive Officer, Kneip, Luxembourg
14.35 – 15.15 Upcoming opportunities in the African capital markets
Moderator: Fernand Grulms, CEO Luxembourg for Finance
Panelists: Said Ibrahimi, CEO, Moroccan Financial Board, Casablanca Reda El Alj, Managing Director, RMA Capital, Casablanca
15.15 – 16.15 The Asian opportunity – where do we stand and what can we expect?
Moderator: Justin Ong, Partner, PwC, Luxembourg
Panelists: Angelyn Lim, Partner, Dechert, Hong Kong Sally Wong, Chief Executive Officer, Hong Kong Investment Funds Association,
Hong Kong Neil Longmuir, Global Head of Product, Investment Fund Services, Standard
Chartered Bank, Singapore Colin Lunn, Head of Fund Services Asia-Pacific, UBS Global Asset Management,
Hong Kong Mostapha Tahiri, Head of Asset and Fund Services Asia, BNP Paribas Securities
Services, Singapore
16.15 – 16.45 Refreshment break and visit of the exhibition area
16.45 – 17.45 East moving West – The Chinese dimension
Moderator: Michael Ferguson, Partner, Asset Management Leader, Ernst & Young, Luxembourg
Panelists: Dr Qi Chen, CEFA, Head of Fund and Risk Controlling, Commerz Funds Solutions S.A., Luxembourg
Jin Wang, Managing Director, CSOP Asset Management Ltd., Hong Kong Michael Wong, Senior Associate, Allen & Overy, Hong Kong
17.45 – 18.25 Skype: a recipe for success in a fast paced and constantly evolving industry
Neil Ward, Vice President and General Manager, Business Operations, Skype Communications S.à r.l., Luxembourg
18.25 – 18.30 Chairperson’s wrap up
18.30– 19.30 Cocktail reception at the Hotel Melia sponsored by
15
wednesday 19th september 2012
programme day 2
alfi global distribution conference
distribution
UCITS
AIFMD
i n a s s o c i a t i o n w i t h
17
programme day 2 - wednesday 19th september 2012 a.m.
08.00 – 08.45 Registration & breakfast
08.45 – 08.50 Chairperson’s introduction
Julien Zimmer, General Manager Investment Funds, DZ Privatbank S.A., Luxembourg
08.50 – 09.20 Addressing investor protection
Jean-Baptiste de Franssu, Chairman, INCIPIT, Brussels
09.20 – 09.30 Commission’s proposal on cross-cutting product disclosures
Tilman Lueder, Head of Unit, Asset Management, European Commission, Brussels
09.30 – 10.20 Deep dive into distribution - The follow-up Moderator: Lou Kiesch, Partner Regulatory Consulting, Deloitte Tax & Consulting, Luxembourg
Panelists: Sheenagh Gordon-Hart, Client and Industry Research Executive, J.P. Morgan Worldwide, London
Noel Fessey, Global Head of Fund Services, Schroder Investment Management (Luxembourg) S.A., Luxembourg
Rob Lay, Managing Director, Head of Distribution Partners Europe and Middle East, UBS Global Asset Management, London
Tilman Lueder, Head of Unit, Asset Management, European Commission, Brussels
10.20 – 10.50 Refreshment break and visit of the exhibition area
10.50 – 11.00 Governance trends in the European financial services sector and implications for the asset management industry
Professor Dr. J.W. Winter, De Brauw Blackstone Westbroek N.V., Amsterdam
11.00 – 11.40 Interview – Governance imperatives for funds and asset managers – Where are we and where should we be going?Interviewees: Jean Guill, Director General, Commission de Surveillance du Secteur Financier,
Luxembourg Professor Dr. J.W. Winter, De Brauw Blackstone Westbroek N.V., AmsterdamInterviewer: Rafik Fischer, General Manager, Head of Global Investor Services,
KBL European Private Bankers, Luxembourg
11.40 – 12.10 AIFM Directive - is all of this reasonable?
Jacques Elvinger, Partner, Elvinger Hoss & Prussen, Luxembourg
12.10 – 12.15 Chairperson’s wrap up
12.15 – 14.15 Lunch hosted by
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day 2 - lunch menu
Les buffets froids
Jambon cru Royal du pays, figues de Sollies
Terrine de rouget & poireaux, thousand island
Fines tranches de bœuf « Black Angus », marinade façon Thaï
Déclinaison autour du saumon de Norvège, blinis, caviar Avruga
Les salades fraîcheurs
Salade de penne au pistou, chorizo, avocat & noix de cajou
Aubergines confites, mozzarella, roquette & parmesan
Chou blanc & carottes au cumin « Coleslaw »
Véritable salade Caesar
Salade maraîchère du moment
Le chaud en show
Dos de saumon, bouillon crémé coco, citronnelle, purée de patate douce
Magret de canard laqué, gingembre, poivre Sichuan, légumes au wok
La suggestion végétarienne
Plateaux de fromages frais & affinés, pain de campagne
Les buffets desserts
Rubis chocolat café, croustillant riz soufflé
Comme un mille feuille …….
Fraîcheur pêche de vigne au cœur coulant
Finger fruits rouges, perles meringuées
Display de fruits frais & exotiques
Café – Thé – Infusions – Petits fours
Boissons
Eaux minérales – Softs – Jus de fruits – Bières chinoises
Chardonnay Viognier Clomanet Wente Cabernet Sauvignon San Francisco Bay 2007
21
programme day 2 - wednesday 19th september 2012 p.m.
14.15 – 14.20 Chairperson’s introduction
Serge Krancenblum, Chief Executive Officer, SGG S.A., Luxembourg
14.20 – 14.50 New Media in Financial Services
Tony Langham, Chief Executive, Lansons Communications, London
14.50 – 15.20 Trends in Global Distribution
Nils Johnson, Director, Spence Johnson, London
15.20 – 15.50 Refreshment break and visit of the exhibition area
15.50 – 16.30 Investment funds in the tax debate: active participants or passive ones?
Keith O’Donnell, Partner, Atoz, Luxembourg Gérard Laures, Partner, Tax, Financial Services, KPMG, Luxembourg
16.30 – 16.55 UCITS V, only a concern for the depositories?
Freddy Brausch, Partner, Linklaters LLP, Luxembourg
16.55 – 17.35 AIFM Directive – passport or private placement: what is the best option?
Moderator: Claude Niedner, Partner, Arendt & Medernach, Luxembourg
Panelists: Natasha Cazenave, Deputy Head of the Asset Management Regulation Policy Division, Autorité des Marchés Financiers, Paris Joanna Cound, Managing Director, Government Affairs & Public Policy, BlackRock, London
Stefan Gavell, Head of Regulatory, Industry and Government Affairs, State Street Bank, Luxembourg
Felix Haldner, Partner, Member of the Executive Board, Head Investment Structures, Partners Group A.G., Baar-Zug
17.35 – 17.40 Chairperson’s closing remarks
23
speakers
distribution
UCITS
AIFMD
25
speakers
Luc FRIEDEN was born in Luxembourg on September 16, 1963. He is married and has two children, born in 1994 and 1996.
After finishing high school in Luxembourg, he studied law at the University of Paris I (Panthéon-Sorbonne) where he graduated in 1986 with a degree (maîtrise) in business law. He continued with his postgraduate studies and obtained a Master of Comparative Law and Legal Philosophy at the University of Cambridge, U.K. (1987) and went on to obtain a Master of Laws at Harvard Law School, U.S.A. (1988).
From 1989 to 1998, he worked as an attorney-at-law in Luxembourg. During the same period, he taught constitutional law at the University Center of Luxembourg.
Luc Frieden’s political career took off in 1994 when he participated in the general elections in Luxembourg for the Christian Democratic Party (CSV / EPP) and was immediately elected to Parliament. He served as member of the Luxembourg Parliament from 1994 to 1998 and was the Chairman of the Finance Committee and Chairman of the Committee on Constitutional Affairs.
In 1998, at the age of 34, he was appointed Minister of Justice and Minister of Budget in the Luxembourg Government. He was reappointed to those same functions after the general elections of 1999. In 2004, after general elections, he continued to serve as a Minister of Justice and Minister of Treasury and Budget. He was also Minister of Defence from 2004 until 2006. After general elections in 2009, Luc Frieden was again confirmed as a member of the Government and is now the Minister of Finance.
He also serves as the Luxembourg Governor of the World Bank, of the European Bank for Reconstruction and Development and of the Asian Development Bank.
Luc FriedenMinister of Finance
Luxembourg
27
speakers
Freddy Brausch is a member of the Luxembourg Bar.
He is a partner at Linklaters LLP in Luxembourg. Freddy Brausch is global co-head of the Linklaters Investment Management Sector. He specializes in all matters of investment management including the structuring of traditional, as well as alternative investment fund products. Freddy Brausch deals also extensively with the funds servicing side, advising global custodians, asset managers, administrators and securities settlement houses.
Freddy Brausch is a member of several advisory committees to the Luxembourg government and to the Commission de Surveillance du Secteur Financier (Supervisory Commission for the Luxembourg Financial Sector) in particular on investment funds, on pension funds, on private equity and venture capital funds.
He is a member of the ALFI Board of Directors and of the ALFI Regulatory Board.
He co-chairs ALFI’s legal and regulatory committee. Freddy Brausch is a past member of the European Commission’s first Expert Group on Asset Management. Freddy Brausch holds a law degree from the University of Aix-en-Provence, France and an LL.M from the London School of Economics (University of London).
Freddy BrauschLinklaters LLP
Natasha Cazenave is Deputy Head of the Asset Management Regulation Policy Division within the Regulation Policy and International Affairs Department of the French Autorité des Marchés Financiers.
In this position, she has been closely involved in the regulatory changes in the Asset management field both at European and International level for the past two years.
She took a leading in the development of ESMA’s technical advice on the AIFMD particularly with regard to the clarification of the duties and liability regime of depositaries.
Prior to joining the AMF, she worked 8 years for a European consultancy specialised in corporate governance and the promotion of investor rights, Deminor. She started her career at Ernst & Young, in the Valuation and Business Modelling team of Ernst & Young Corporate Finance.
Natasha holds a Masters Degree in Economics and Finance from the University of Paris Dauphine.
Natasha CazenaveAutorité des Marchés
Financiers
29
speakers
29
speakers
Dr. Qi Chen is the Head of Fund- and Risk-Controlling of Commerz Funds Solutions S.A.
He joined Commerz Funds Solutions S.A. in 2009 as Head of Risk Management.
Before that, he has worked at Deutsche Börse in 1995 and then he was the Head of the Risk Management at Cominvest Asset Management S.A. Luxembourg from 1996 to 2009.
Dr. Qi Chen holds diplomas from the Tong-Ji University in Shanghai and the University of Kaiserslautern.
He is currently Advisory Professor at Tong Ji University while between 2008 and 2010 he was an ATTF Trainer for the seminar ‘UCITS regulations and Risk Management’ in Shanghai.
Qi ChenCommerz Funds Solutions S.A.
Joanna CoundBlackRock
Managing Director, heads up BlackRock's Government Affairs team in Europe. She is a member of BlackRock's Global Government Affairs Steering Committee, BlackRock's European Operating Committee and BlackRock's Leadership Council in Europe. She is also a board member of the European Fund and Asset Management Association (EFAMA) and the Institutional Money Market Fund Association (IMMFA).
Prior to moving to this role, Ms. Cound was International COO for BlackRock's Cash Management Group. Ms. Cound's service with the firm dates back to 1996, including her years with Merrill Lynch Investment Managers (MLIM), which merged with BlackRock in 2006.
Prior to joining MLIM in 1996, Ms. Cound worked for Fidelity as head of European product development and as a marketing manager for Citibank retail bank in Germany.
Ms. Cound earned a BA degree in European studies from Loughborough University and an advanced certificate in European studies from the College of Europe in Bruges, Belgium. She also has an MBA from the London Business School.
31
speakers
Jean-Baptiste de Franssu is Chairman of INCIPIT, an M&A advisory and consulting firm.
Up to the end of October 2011 he was Chief Executive Officer of Invesco Europe and a member of the Invesco Worldwide management committee.Since 1990 when he joined Invesco he led the firm's successful expansion first in France and then across Europe.
Before joining Invesco, Jean-Baptiste was a Director of Groupe Caisse des Dépôts et Consignations in France, and prior to this a Financial Editor at INVESTIR magazine.
Jean-Baptiste is a graduate of the ESC Group Business School in Reims, France and holds a BA in European Business Administration from Middlesex University in the UK. He also holds a postgraduate degree in Actuarial Studies from Pierre and Marie Curie University in Paris.
In June 2007 he was elected Vice-President of the European Fund and Asset Management Association (EFAMA) and in June 2009, President of EFAMA. His mandate ended in June 2011.
Jean-Baptiste is a member of European and US charities boards as well as non-executive board member of CARMIGNAC Gestion (France) and chairman of TAGES LLP (UK).
Jean-Baptiste de FranssuINCIPIT
Reda El Alj has been a member of the Board of RMA WATANYA, General Manager of Finance & Real Estate division and Managing Director of RMA CAPITAL. He sits on the board of several divisions under FinanceCom Group.
He has 14 years of Asset Management, ALM & Insurance experience in the most prestigious institutions within the marketplace. At careerstart, he was in charge of Institutional and Quantitative Asset Management at BMCE CAPITAL GESTION in 1998.
In 2001, he joined FinanceCom and was heavily involved in the different sales and acquisitions operations made by the Group. Specifically, he was responsible for ALM and financial implementation strategies, respectively designed for Group insurance subsidiaries and for RMA & AL WATANYA merger.
In 2004, he joined RMA WATANYA as a Financial Director. His main role was to determine and implement the company’s financial strategy and to monitor the ALM activities. His roles were then enlarged to such an extent that he was in charge of the whole Finance & Real Estatedivision and the general management office of RMA Capital. He created and progressively developed the latter till it was ranked among the top market asset management players.
Mr. EL ALJ is 38 years old, and he graduated in engineering from the Federal Polytechnic Institute in Lausanne.Reda El Alj
RMA Capital
33
speakers
Jacques Elvinger has passed a Master of Law Degree (Law Faculty, University of Strasbourg) in 1983 and was admitted to the Luxembourg Bar in 1983. He became a partner with the Luxembourg law firm Elvinger, Hoss & Prussen in 1983.
Jacques Elvinger practises commercial, company, banking and finance law. He specialises in the field of undertakings for collective investment, pension funds and other investment vehicles and is head of the investment fund department at Elvinger, Hoss & Prussen.
He is a member of the Board of Directors of the Association of the Luxembourg Fund Industry (ALFI) and co-chairman of the ALFI’s Legal Commission and member of numerous ALFI Working Groups. He is a Member of several Advisory Committees of the Commission for the Supervision of the Financial Sector (CSSF) (CSSF Committee on Investment Funds, CSSF Committee on Pension Funds and CSSF Committee on Investment Companies in Risk Capital).
He is also a member of the AIFMD Working Group of the CSSF Committee on Investment Funds. He is also a member of the Working Group on Alternative Investment Funds of the High Committee for the Development of the Financial Centre (HCPF). He is a member of the Expert Group of the European Commission on the EU Directive on Taxation of Savings. He is a member of the Working Group of the European Fund and Asset Management Association (EFAMA) on the development of UCITS.
He is a member of the International Bar Association (IBA) and member of the Committee I (Investment Funds) of the IBA.
He is a lecturer at the University of Luxembourg in the context of the Master II law degree and holds courses in the context of the examinations for admission to the Luxembourg bar.
Jacques ElvingerElvinger Hoss & Prussen
Michael Ferguson is the Ernst & Young Luxembourg Asset Management Practice Leader and their EMEIA Regulated Investment Funds Leader. His primary responsibility is to lead and develop audit and related services that EY delivers to an international investment management clientele.
Michael has over 20 years experience in the investment management industry primarily in Luxembourg, Ireland, the United Kingdom and the United States. Michael is a member of Ernst & Young’s Global Asset Management Advisory Board and of its Global Hedge Fund Committee.
His clients include a wide variety of mutual funds, hedge funds and structured products promoted by global asset managers.
Michael Ferguson is a member of the Board of Directors of Association of the Luxembourg Fund Industry (ALFI) and chairs and participates in various ALFI committees.
Michael is a member of Ernst & Young’s Global Asset Management Advisory Board and its Global Hedge Fund Committee.
Michael is also a regular speaker at asset management conferences, including the local ALFI conferences as well as ALFI Road-shows to Asia, the UK and the US. He has written many articles and publications about the investment fund industry. Michael also meets, on a regular basis, the Commission de Surveillance du Secteur Financier (CSSF) to discuss issues impacting the asset management industry.
Michael FergusonErnst & Young
35
speakers
As Schroders' Global Head of Fund Services, Noel runs teams in London and Luxembourg that look after more than 200 open and closed-ended funds in Luxembourg, the UK, Jersey, Guernsey and Ireland.
He also provides leadership for Schroders' fund services in other countries around the world.
Noel is the managing director of Schroder Investment Management (Luxembourg) S.A., and has lived and worked in Luxembourg for nine years.
Noel was elected a member of ALFI's Board of Directors in 2005.
Noel FesseySchroder Investment
Management (Luxembourg) S.A.
Mr. Fischer is Head of Global Investor Services at KBL Group, in charge of the entire range of services and products targeted towards the professional and institutional investors and is sitting on the KBLepb Group Strategy Board.
He is also a Director of Kredietrust, the Asset Management Company of KBL, as well as Chairman of the Board of Directors of EFA, a leading Luxembourg specialist service provider to the investment fund industry.
Since 1997 Mr. Fischer has been serving on the Board of ALFI, acting as its Chairman from 1998 until 2001, as well as sitting on the Board of ABBL and is elected member of the Plenary of the Luxembourg Chamber of Commerce.
Among many other positions Mr. Fischer is appointed to a number of Committees and WGs of the CSSF and represents Luxembourg in the newly launched CWG of EMSA/CESR’s Investment Management standing committee. He also sat on the Board of the CSSF from 1998 to 2011.
Rafik Fischer is a Graduate of the Diplomatic Academy of Vienna and founding Alumni hall of fame member. He is visiting Professor at HEC and the Law faculty of the Université de Liège for the Investment Fund Industry chair.
Rafik FischerKBL European Private Bankers
37
speakers
Stefan M. Gavell is Executive Vice President and Head of Regulatory, Industry and Government Affairs with responsibility for global regulatory and government relations. He is also President of State Street International Holdings, the holding company for State Street’s principal international subsidiaries. Mr. Gavell has worked for more than 30 years in the financial services industry in the U.S., Europe and Asia. He joined State Street in 1990 in Japan, after which he was responsible for State Street’s Global Markets businesses in Europe. Upon his return to the U.S., he has held several positions, including head of international Global Markets activities, interim Chief Financial Officer, and Corporate Treasurer. Mr. Gavell currently Chairs the Regulatory Reform Steering Committee at State Street.
Mr. Gavell is currently the Chairman of the American Bankers Association Securities Association and is a board member of British American Business, Inc. He was born in Washington, D.C. and holds an M.B.A. in Finance from Columbia University and a B.A. in Economics and Government from Oberlin College.
Stefan GavellState Street Bank
Sheenagh Gordon-Hart joined J. P. Morgan in 2001 having run her own investment consulting business for 7 years during which time her clients included asset managers, insurance companies and international public bodies.
Prior to this she was a Director of Prolific International and Prolific Unit Trust Managers.
She began her career in the financial sector with Prudential and then moved to Capel-Cure Myers where she was Divisional Director, Private Clients. Sheenagh is a Chartered Accountant and has MA in Political Science and Jurisprudence.
Sheenagh Gordon-HartJ.P. Morgan
39
speakers
Fernand Grulms holds a masters degree in finance and quantitative economics from theUniversity of Liège in Belgium. He also took courses in finance at Cambridge University(UK) and in actuarial science at the University of Louvain la Neuve. He is a certified pensionactuary registered with the Luxembourg social security supervisor IGSS.
Fernand has worked for several banks in Luxembourg and has 26 years’ experience in finance.
In September 2007, he was appointed CEO of Luxembourg for Finance by the LuxembourgGouvernment. Luxembourg for Finance is an agency which works to enhance thedevelopment of the Luxembourg financial centre. It is a public private partnership between the Luxembourg State and the financial sector, chaired by the Minister of Finance.
Prior to this appointment, he was a member of the Executive Committee of the LuxembourgBankers Association, ABBL. From 1999 to 2005, he was managing director of PECOMA, an actuarial and pension consulting firm in Luxembourg.
Fernand lectured on “techniques & mathematics of finance” at the University of Luxembourg from 1987 to 2004.
He is the founding Chairman of the Economist Club Luxembourg and the author of a reporton the future of the Luxembourg public pension regime.
Fernand GrulmsLuxembourg for Finance
Jean Guill has been Director General of the Commission de surveillance du secteur financier (CSSF) since May 2009.
Before moving to that post, he was Director of the Treasury in the Luxembourg Ministry of Finance from 1998.
He started his professional career in 1974 at the Commissariat au contrôle des banques. From 1978 to 1979 Jean Guill was in Washington in the office of the Executive Director for Luxembourg at the International Monetary Fund (IMF) and the World Bank.
During his time in the Finance Ministry, he was an Alternate Governor of the World Bank and the European Bank for Reconstruction and Development (EBRD) as well as a State representative in the Boards of different national institutions and companies.
In January 2011, he was elected to the Management Board of ESMA, the European Securities and Markets Authority.
Jean GuillCommission de Surveillance
du Secteur Financier
41
speakers
Felix Haldner is a Partner, head of the investment structures business department and a member of the executive board.
He is materially involved in private markets deal structuring and execution, respectively for advice on tax, legal, regulatory and structural matters relating to investments.
He has developed many major products for Partners Group’s institutional and private clients in Europe and overseas.
Prior to joining Partners Group, he was a Partner at PricewaterhouseCoopers, where he was employed from 1992 to 2001 and advised multinational insurance companies, investment management and banking clients on strategic tax planning matters and investment products.
He holds a master’s degree in business law from the University of St. Gallen (HSG), is admitted to the Swiss Bar and is a Certified Swiss Tax Expert.
Felix HaldnerPartners Group AG
Theresa has been the President of NICSA since March 2008. NICSA (the National Investment Company Service Association) is the leading provider of independent education and networking forums to professionals in the global investment management community.
With Robert Pozen, she is co-author of “The Fund Industry: How Your Money is Managed” (Wiley, 2011) and a columnist in the Financial Times and Washington Post. She is also the co-author of The Pocket Idiot’s Guide to Investing in Stocks (Alpha, 2006).
She has served as Chief Investment Officer (CIO) for Pioneer Investment Management USA in Boston, MA, where she oversaw a team of more than 50 investment professionals managing over $15 billion in global equity and fixed income assets for mutual fund and institutional clients.
Previously, she was the CIO for Prudential Mutual Funds in Newark, NJ where she supervised over $60 billion in assets. In 1984, she was the portfolio manager of the top-performing mutual fund in the U.S., the Prudential-Bache (Tax-Managed) Utility Fund. She began her career in the investment industry in 1983 as a securities analyst.
Theresa is a graduate of Yale College, with a major in Economics. She is a Chartered Financial Analyst.
Theresa HamacherNICSA
43
speakers
Saïd IBRAHIMI, 55 years old, is an engineer alumni of “Ecole Centrale de Paris”. He holds a graduate diploma of industrial engineering.He presently is the CEO of the Moroccan Financial Board.
Mr. IBRAHIMI began his professional career in France where he entered the banking system as of 1986 bearing different operational responsibilities in the Group BNP PARIBAS.
He was appointed General Director of the Moroccan Bank for Africa and the Middle East in September 1995.
His late Majesty King Hassan the 2nd appointed him in September 1997 as General Director of the “Caisse Nationale de Crédit Agricole”. He successfully drove an important institutional and financial reform (changing the state bank into a commercial bank).
In September 2003, His Majesty King Mohamed the 6th appointed him as Treasurer of the Kingdom.
He ran a modernisation plan aiming to improve the quality and efficiency of the institution’s services. He also was in charge of the sensitive reform project of public spending control which he successfully achieved by merging heavy and important administrations.
In April 2010, His Majesty King Mohamed the 6th appointed him as Chief Executive of the Moroccan Financial Board, the body in charge of the institutional promotion and the overall management program of the Casablanca Finance City project.
Mr. IBRAHIMI is a Member of the Board of Trustees of the Royal Association for Solidarity.
He was President of the International Association of Treasury Services and President of the Ecole Centrale alumni association.
He had been vice-president of the Professional Association of Moroccan Banks until 2003.
Said IbrahimiMoroccan Financial Board
Nils is a strategic marketing consultant in B2B financial services. He has enjoyed a 20 year career in banking, consulting and research focused on financial markets, institutional investors and investment products.
Nils’ career started at Chase Manhattan Bank in New York. This was followed by senior sales and marketing positions in Treasury & FX at First Chicago, Calyon and Wachovia in London.
In 2005, Nils joined KAE marketing intelligence where he built a strong reputation as a strategic consultant to sales & marketing professionals in investment banking, asset management and life & pensions.
Nils holds a bachelor's degree from Hampshire College and Master's Degrees from Johns Hopkins University and Henley Management College. He is a CF21 registered investment adviser with the FSA.
Nils JohnsonSpence Johnson
45
speakers
Lou joined Deloitte in November 2001 as Director in the Investment Management Services department, where he currently heads up the Compliance and Regulatory Practice.
Since 1st June 2005, he is a partner within Deloitte’s Investment Management Services.
Lou has a work experience of more than 18 years within the financial industry gained in Luxembourg, London, Frankfurt and Paris.
Prior to joining Deloitte, Lou was with Allianz Asset Management and Fidelity Investments where he was in charge of the Continental European Compliance Department.
Lou is co-founder of the Luxembourg Compliance Officer’s Association (ALCO) where he occupied the role of Vice President until April 2003. He is furthermore a member of different ALFI working groups and chairs ALFI’s committee for International Distribution. He is since June 2009 member of the ALFI Board.
Lou KieschDeloitte Tax & Consulting
Bob KneipKNEIP
Founder and CEO of KNEIP, leading service and software provider to the global investment fund industry, Bob Kneip studied at the University of Paris II-Assas, and holds the third Cycle management diploma from the Institut Superieur de Gestion, Paris.
Bob started his career in 1984 in the Sodexho Group as the regional Manager of the Chéque- Repas CR S.A., Belgium, going on to found Chéque-Repas Luxembourg S.A., where he was Director until 1990. Then after serving as Managing Director at Germany’s Weka GmbH & Co KG. and Luxembourg’s Publicité et Promotion S.àr.l., he founded KNEIP in 1993.
Over the past 19 years, Bob has put his vision and energy into building KNEIP into the preferred partner to the fund industry that it is today.
Headquartered in Luxembourg, with offices in Belgium, France, Germany, Switzerland and the UK, KNEIP serves more than 420 of the largest global fund management companies worldwide, helping clients provide consistent and accurate fund data & documents to their distributors and meet their regulatory reporting obligations.
47
speakers
CEO of SGG, a leading fund and corporate administration services provider based in Luxembourg, the Netherlands, Switzerland and Belgium.
Prior to SGG he held various senior managerial positions at KBL European Private Bankers and was a Partner with Arthur Andersen.
He serves as an Independent Director on the boards of a few real estate and private equity funds as well as of selected listed and private companies.
He has a long career in developing and managing transnational solutions for institutional investors, entrepreneurs and family offices and is also Vice President of the Luxembourg Association of Family Office (LAFO).
Graduated from the University of Connecticut School of Business, USA, he obtained a MBA in Finance in 1984.
Serge KrancenblumSGG S.A.
Tony Langham, Chief Executive, Lansons Communications.
Tony has advised financial services and asset management companies on their image and reputation for over 25 years.
He co-founded Lansons in 1989 and since then the firm has won 61 PR and marketing awards including being named UK PR agency of the year on seven occasions.
For the last eight years Lansons has also appeared in the Financial Times as one of the UK’s 50 best workplaces through the Great Places to Work® Institute.
Tony received the ‘lifetime achievement’ award for outstanding contribution to the UK PR industry from the Public Relations Consultants’ Association in 2004 and is a Fellow of the Chartered Institute of Public Relations. He is also non-executive Chairman of financial technology firm unbiased.co.uk.
Tony LanghamLansons Communications
49
speakers
Gérard Laures is a Tax Partner with KPMG Luxembourg, in charge of a portfolio of Luxembourg investment funds and banks.
Gérard is specialized in corporate tax and is providing ongoing advice to groups active in the financial sector. He is specialised in the area of operational taxes in the investment funds and banking sector, in particular in the FATCA, European Savings Directive and US Qualified Intermediary regimes.
Gérard chairs ALFI’s FATCA working group and is also a member of the ABBL’s FATCA, QI and EUSD operational working groups.
He is a frequent speaker on FATCA issues and has authored several articles on operational taxes appearing in Luxembourg and international newspapers and magazines.
Gérard LauresKPMG
Rob Lay is Head of Distribution Partners Europe and Middle East at UBS Global AssetManagement. In this pan-regional role, Rob is responsible for all aspects of the developmentof our wholesale fund distribution business across the region. This includes relationshipmanagement, business development, client servicing, product development and management, and marketing.
Rob joined UBS Global Asset Management in this role in early 2011. He has extensiveexperience in wholesale markets across Europe. Most recently Rob spent three years at BaringAsset Management as Head of UK, European and Middle Eastern Fund Sales, where he was responsible for mutual fund sales and business development to wholesale clients and distribution partners across the region.
Prior to this, Rob was Head of International Business Development and Alternatives at Fidelity International, driving their wholesale and institutional sales efforts outside the US.
Rob was previously Product Director for the Global Portfolios Group at JP Morgan Asset Management.
Rob LayUBS Global Asset Management
51
speakers
William (Bill) Lee is a Managing Director on the Global Chief Economist team, and is based in New York as part of the Citi Investment Research and Analysis (CIRA) group. As an integral member of Citi's global team of economists, Bill’s specific focus is on issues that are most relevant to the Firm’s Citi Transactions Services (CTS) businesses and their clients. He also has primary responsibility for contributing to and delivering the global economics team's insights to CTS clients at conferences and bi-lateral meetings around the globe. Prior to joining Citi in February 2011, Bill had served as an economist with the Federal Reserve System Board of Governors in Washington, and later moved to the Federal Reserve Bank of New York as Senior Economist and Division Chief of the Financial Markets Division.
For the last 18 years, Bill was Deputy Division Chief at the International Monetary Fund (IMF) where, among other accomplishments, he established its Hong Kong office and was the IMF Resident Representative from 2000-2003, Mission Chief for Singapore, and Senior Desk Economist and Deputy Division Chief covering the United States and Germany.
More recently, Bill had been Deputy Division Chief responsible for analytical chapters of the IMF’s flagship publication on global financial stability (The Global Financial Stability Report). Some of the key issues he researched and wrote about related to asset allocation, credit derivatives, hedge funds, pension funds, and regulatory reforms to strengthen the stability of the global financial system. Bill holds a BSc in Operations Research and a PhD in Economics, both from Columbia University, New York.
William LeeCiti
Angelyn Lim is a partner in the financial services group of the Hong Kong office and leads the firm’s Asian financial services practice. She advises on the establishment of investment products (including unit trusts, private equity, hedge and mutual funds) and their authorization for public distribution in Hong Kong.
She also advises banks and trust companies on custodial and restructuring issues; and industry participants on Hong Kong regulatory and compliance issues, including on private placement, intermediary licensing, securities disclosure of interests, and internal control procedures. These participants include a number of large US and European private equity funds as well as the asset management arms of PRC banks.
Ms. Lim has been consistently recognized as a leading investment funds lawyer in all the legal guides including Chambers Asia and Legal 500 Asia Pacific.
Ms. Lim speaks English, Mandarin, French, and Malay. She has an LL.B. from National University of Singapore, and is admitted to practice in Singapore, Hong Kong, and England and Wales.
Angelyn LimDechert
53
speakers
Neil Longmuir is the Global Product Head for the Investor Segment within Standard Chartered’s Securities and Funds Services division of Transaction Banking, based in Singapore. Neil is responsible for leading the fund services product agenda and investor segment strategy across the bank’s core footprint markets of Asia, Africa and Middle East.
Neil joined Standard Chartered in August 2010 from Fidelity Worldwide Investment where he worked for 18 years in a variety of senior client & operations management and business development roles, with extensive experience
of both the retail and institutional asset management industry. His last position was as Regional Head of Operations and Corporate services (Asia Pacific) based in Hong Kong. He has also worked in South Korea, India, Luxembourg, USA and the UK.
Neil LongmuirStandard Chartered Bank
Tilman Lueder is head of the unit dealing with investment funds at the European Commission's Internal Market department.
The unit is responsible for developing a European policy in the area of investment funds. This involves drafting legislative proposals, implementing measures and pre-legislative impact studies. The unit currently administers the EU rules applicable to collective investment schemes (UCITS) and those applicable to alternative investment fund managers (AIFMD). The unit represents the Commission in Council and with the European Securities and Markets Authority (ESMA).
Previously, from January 2005 to April 2011, Tilman was head of the copyright unit.
He represented the Commission in Council and, at international level, represented the Community and its Member States in the World Intellectual Property Organisation (WIPO). From 2002 to 2004 he was the Commission's spokesman for antitrust and state aid policy. Tilman joined the European Commission's antitrust department in 1999, after having worked for several years as an antitrust lawyer in private practice.
Tilman holds a doctorate from the University of Tübingen (Germany) and a diploma awarded by the College of Europe in Bruges (Belgium).
Tilman LuederEuropean Commission
55
speakers
Colin Lunn was appointed Head of Fund Services Asia-Pacific in April 2012. With this expanded role, Colin is responsible for the p&l of the Asian business, as well as continuing to grow the Fund Services footprint in the region. Colin is a member of the Fund Services Management Committee.
Colin joined UBS in July 2011 as Head of Business Development & Client Services, Fund Services in Asia Pacific where he was responsible for growing the Fund Services business in Asia. Prior to joining UBS, Colin was Head of Business Development Asia-Pacific, HSBC Securities Services – Fund Services & Global Custody from 2007 to 2011.
Before HSBC’s acquisition of Bank of Bermuda in 2004, Colin held various positions at Bank of Bermuda and has also worked at State Street Bank & Trust Co. in Hong Kong. Colin has extensive experience of Asia having lived and worked in Hong Kong for the past 19 years.
Colin LunnUBS
Diana is a recognised expert on trends in the investment fund arena having initiated the first authoritative research on the European markets in 1990.
This research included a number of unique data gathering projects designed to aid fund management groups develop their strategies for gathering assets not just in Europe’s diverse markets but on a global basis.
Over a period of seven years her most recent research venture (FERI FMI) developed into a multi-million pound business, which was acquired by Thomson Reuters. She has now established a new research business with long-term colleague Rodney Williams, which comprises a monthly report on industry trends called Fund Radar and a majority stake in the Berlin-based distributor research company Fund Buyer Focus, acquired in January 2011.
With more than 20 year’s experience of monitoring the development of fund markets Diana has been called as an expert witness to the European Parliament’s deliberations on the impact of Ucits and has participated in numerous European Commission initiatives, and industry Think Tanks.
She is a member of ALFI's Strategy Committee and has assisted in the promotion of the EFAMA fund classification standards.
Diana MackayMacKayWilliams
57
speakers
Claude Niedner is a founding partner of Arendt & Medernach law firm and serves as head of the firm’s Real Estate industry group.
He is also a member of the firm’s management board. He specialises in investment funds and works in the UCITS, hedge funds and real estate areas. He has been a member of the Luxembourg Bar since 1993. He is chairman of the Alternative Investments Committee of the Association of the Luxembourg Fund Industry (ALFI).
Claude has been actively involved in the AIFMD working group of ALFI, liaising intensively with the public bodies participating in the negotiation process of the directive.
He is a regular speaker at international conferences on investment funds related topics.
He was a lecturer in financial law at the Université Robert Schuman de Strasbourg (France). Prior to joining the Luxembourg Bar, Claude Niedner worked in the capital markets department of a major Luxembourg bank.
Claude Niedner holds a Master's degree in law from the Université Robert Schuman de Strasbourg (France) as well as a Master's degree in business administration from the Hautes Etudes Commerciales (HEC), Paris (France).
Claude NiednerArendt & Medernach
Keith O’Donnell is a founding Partner and the Managing Partner of ATOZ. He is also the Global Real Estate leader of Tax and, the global organisation of independent tax advisors. Keith advises international groups on the design and implementation of global tax strategies with particular emphasis on Global Real Estate and Private Equity funds and is recognized as one of Luxembourg’s leading tax advisers. He has been instrumental in shaping legislative change in coordination with industry bodies.
He has been a tax specialist for 20 years, during which time he has held a number of senior technical and management positions such as head of the real estate industry for Continental Western Europe, tax leader for the asset management team in Europe (E&Y) and asset management practice leader in EMEIA (Andersen).
He is actively involved with several key tax international bodies including the OECD’s collective investment vehicle ICG and the EU Commissions expert group on open-ended real estate funds. He also lectures extensively at professional organizations including EVCA and INREV.
Keith was educated in Brussels and Dublin. He holds a law degree from the National University of Ireland and is qualified as a Tax Adviser and as a Chartered Accountant in Ireland and Luxembourg. He has also consistently follows professional development courses from academic establishments like Harvard Business School.
Keith O'DonnellAtoz
59
speakers
Justin is a partner with PricewaterhouseCoopers Luxembourg.
Prior to his secondment to Luxembourg in January 2011, Justin led the Asset Management Practice in Singapore over the past 7 years and has more than 20 years of experience working in Asia and London on internal controls, market entry strategies, process improvement and other assurance services, among others.
His role in Luxembourg is primarily advising European financial institutions looking to gain entry to Asia, as well as being the primary liaison person for Asian asset managers seeking to launch fund platforms in Europe as well as expand their fund distribution reach into Europe.
Justin serves on the Investment Management Association of Singapore’s Regulatory Committee and Risk & Performance Committee.
Justin holds the Investment Management Certificate issued by the Institute of Investment Management and Research in UK and was an advisor to the CFA Institute’s Examination Review Panel for the Certificate in Investment Performance Measurement.
Justin OngPwC
French, 48 years old, graduated from the “ISG” Institut Supérieur de Gestion in Paris.
Marc is also “Réviseur d’entreprises agréé”. He joined the firm in 1986, was admitted as a partner in 1996 and has more than 25 years of experience in the Asset Management Industry in Luxembourg and in the US.
Between 2006 and 2010, Marc led the PwC Global Asset Management practice.
Marc is a member of the CSSF-OPC Committee, advising the Luxembourg fund regulator on laws and regulations impacting the fund industry in Luxembourg.
Since June 2011, Marc is the Chairman of ALFI, the Luxembourg fund association.
Marc SaluzziPwC
61
speakers
David Schrieberg is the co-founder and CEO of VitalBriefing S.A., a Luxembourg-based company providing personalized, in-depth information to financial professionals and their customers.
A Pulitzer prizewinning journalist, digital media expert and entrepreneur, he moved to Luxembourg in 2003 as AOL Europe’s Vice President of Content & Programming.
He co-founded and led as CEO a digital documentary film company, Cinelan, and has consulted internationally for Bank of America, RTL Group, Time, PBS (U.S. Public Broadcasting Service), Forbes, and Fremantle Media, among others.
In 2000, David founded a digital content consultancy in Silicon Valley, leading companies in their transition from traditional to digital media.
Prior, David was a newspaper and magazine journalist and foreign correspondent in the U.S., Europe, the Middle East and Latin America, lastly as Newsweek South America Bureau Chief. A graduate of Georgetown University, he was a John S. Knight Fellow at Stanford University.
David SchriebergVitalBriefing
Thomas Seale is CEO of European Fund Administration (EFA) in Luxembourg.
Since its creation in 1996, EFA has become a market leader, providing administration and transfer agency services for 2600 funds worth $120 billion. Mr. Seale is a Member of the CSSF OPC Committee, Board Observer at LUXFLAG, Member of the Board of ALFI (Association of the Luxembourg Fund Industry), Chairman of ALFI’s Microfinance Working Group and also served as Chairman of ALFI from 2003-2007, and Vice-Chairman from 2007-2011.
Before EFA, Mr Seale was Managing Director and Country Corporate Officer for Citibank Luxembourg, led Product Marketing for The Citibank Private Bank in Switzerland, and worked as a Management Consultant for the Mac Group in Paris and Los Angeles.
Mr. Seale holds an MA in Economics and an MBA from the University of California at Los Angeles.
Thomas SealeEuropean Fund Administration
63
speakers
Mostapha Tahiri joined BNP Paribas in 1998 and is currently responsible for managing and developing the asset and fund services business in Asia, with a focus on product management, operations and technology.
The asset and fund services business covers all services to asset managers and asset owners, including global custody, middle-office outsourcing, fund administration, investment reporting and performance, trustee and transfer agency services. Based in Singapore, Mostapha is a member of the BNP Paribas Securities Services regional executive committee.
He has 15 years of experience in the securities and fund services industry.
He began his career with the asset management arm of BNP Paribas where he was eventually appointed as Head of Fund Administration covering both France and Luxembourg.
Mostapha moved to BNP Paribas Securities Services in 2005 where he held various senior roles, including Deputy Head of BNP Paribas Fund Services, managing middle-office and fund administration operations. He was instrumental in implementing the bank’s global operating model for fund administration and middle-office in time zones across three continents.
Mostapha TahiriBNP Paribas Securities Services
Mr.Wang Jin is the Managing Director at CSOP Asset Management, the Hong Kong subsidiary of China Southern Fund which is set up in 1998 as the first Chinese Fund Company.
He is heading the company’s offshore business development. Prior to CSOP, Mr. Wang worked 3 years at RCG, a hedge fund of funds based in Washington DC. He was responsible for Risk Management, Asset Allocation and hedge fund manager selection.
From 2002 to 2007, Mr. Wang worked at World Bank Treasury. He was part of the operation and risk management team to manage its Global Fixed Income portfolios and Reserves Advisory and Management Program.
Mr. Wang also worked at China Development Bank in China from 1997 to 2000, where he was the assistant Accounting Manager.
Mr. Wang obtained his MBA degree from the George Washington and BA of Economics from Beijing Jiaotong University.
Mr. Wang is CFA chapter holder. He also received CPA certificate from China and USA.
Jin WangCSOP Asset Management Ltd.
65
speakers
Neil is Vice-President and General Manager of Global Business Operations for Skype, a division of Microsoft.
Neil joined Skype in June 2009 and oversees the delivery of core Customer Experience and operational delivery.
His portfolio includes Carrier Relations in a 140 countries, Customer Service for a still growing base of 250 million users a month, Anti-fraud and Revenue Assurance and the delivery of Billings and Payments solutions.
He also enables product readiness into user base. Prior to Skype, Neil was, among others, General Manager for B to B Services at BT Group plc.
For 3 years, COO at a start-up in 2006 after a successful 5 year period at Virgin Media where as Director of Integration he led the alignment of NTL and Telewest operations under the new brand.
A qualified solicitor, Neil holds an LLB Honours Degree and a BA in English and History.
Neil WardSkype Communications S.à r.l.
Jaap (dr. J.W.) Winter (49) is partner at De Brauw Blackstone Westbroek. His practice areas include corporate law and corporate governance. He is professor of international company law at the University of Amsterdam and professor of corporate governance at the Duisenberg school of finance in Amsterdam.
He was the chairman of the High Level Group of Company Law Experts that advised the EU Commission and Finance Ministers on the developments of corporate governance in the EU in 2001-2002.
He received the prestigious ICGN International Corporate Governance Award in 2004. Jaap Winter has worked with many boards (executive and non-executive) in both advisory and educational capacities.
Together with Erik van de Loo and Kees Cools he conducts board reviews, focusing on the interplay between the system and the roles that need to be played on the one hand, and group dynamics and members' individual contribution on the other.
Jaap Winter has published widely on matters of corporate law and corporate governance and often speaks at conferences and other public occasions. He is a member of the Supervisory Board of Randstad Holding N.V.
Jaap WinterDe Brauw Blackstone
Westbroek N.V.
67
speakers
Michael Wong is a senior associate in Allen & Overy’s Hong Kong office, and is a member of the APAC Regulatory Group. He is a qualified solicitor in Hong Kong and New South Wales and has over 10 years' experience in the financial services industry in Hong Kong.
Michael regularly advises on the establishment of hedge funds, private equity funds and retail funds, and also matters concerning the licensing of asset managers, fund authorisation requirements and funds offering and distributing in Hong Kong.
Major projects which he is currently working on include advising a Dutch-based multi-national financial institution on distribution of its Luxembourg-domiciled SICAV umbrella funds in Hong Kong, advising one of the largest
PRC-based financial institutions on the establishment of an RMB-denominated principal protected bond fund for distribution to offshore investors and advising a top tier PRC-based asset manager on setting up its operations in Hong Kong, including its licence application to the Securities and Futures Commission and the establishment and distribution of its first ever non-PRC domiciled fund.
Michael WongAllen & Overy
Sally Wong is the Chief Executive Officer of the Hong Kong Investment Funds Association, which is a non-profit-making organisation that represents the asset management industry in Hong Kong. She represents the industry in liaising with the authorities, legislators, media and other stakeholder groups to discuss issues that have implications to the Hong Kong mutual fund market and the Mandatory Provident Fund (“MPF”) Schemes market.
She also takes an active role in investor education and research initiatives.
Mrs. Wong is a non-official member of the Hong Kong SAR Government Advisory Committee on Bond Market Development and an alternate member of the MPF Guidelines Committee. She is a member of the Hang Seng Index Advisory Committee. She also chairs the IOSCO Working Group of the International Investment Funds Association. In addition, she has also been representing the Association to speak at major international fund industry conferences and a range of educational and promotional events.
Sally WongHong Kong Investment
Funds Association
69
speakers
Eddy Wymeersch is now chairman of the Public Interest Oversight Board in Madrid and member of the board of FINMA and of Euroclear SA. He has been Chairman of the Committee of European Securities regulators (CESR) (February 2007- July 2010) and of the European Regional Committee of IOSCO, in that capacity also taking part in the Executive and the Technical committee (2006-2010).
He was Chairman of the Belgian Commission Bancaire, Financière et des Assurances (CBFA) (chief executive 2001-2007 and chairman of the supervisory board (2007-2010).
Before joining the CBFA, Mr Wymeersch has held several public functions in Belgium: “regent” of the National Bank of Belgium from 1992 to 2001, member of the legislative branch of the Council of State. Between 1990 and 2001, he was a member of the board of several Belgian companies, and from 1998 the Chairman of the Brussels airport (to February 2001).
Mr Wymeersch has been an academic at the Ghent Law School where he founded the “Financial Law Institute” (www.law.ugent.be/fli), and has participated in several committees advising the Belgian government, esp. on financial supervision or on corporate governance.
In addition, he has acted as an adviser to the European Commission, a consultant to the World Bank and IFC and an advisor to several European financial institutions and stock exchanges. He acted as arbitrator in domestic and international cases.
He has published extensively on company law, corporate governance and financial regulation (see: ssrn.Wymeersch and http://www.law.ugent.be/fli).
He is member of the European Corporate Governance Forum (ec.europa.eu/internal_market/company/ecgforum/index_en.htm) and of the European Corporate Governance Institute.
Eddy WymeerschUniversity of Gent
Julien Zimmer is General Manager Investment Funds at DZ PRIVATBANK S.A.
Since 11 years he is responsible for set up of funds, client relationship management, central administration as well as coordination of the whole Investment Fund Business in DZ PRIVATBANK S.A.
Since 1998 Julien is member of Comité OPC at the local authority CSSF and since 1999 he is Board member at ALFI. In 2000 he became Member of the Executive Committee of ALFI and furthermore since 2005 he occupies the position as Treasurer of ALFI.
He has long experience in association with investment funds business because of an extensive career as Managing Director at Euro Fund Services S.A. as well as at Unico Financial Services S.A., both for several years as Administrateur délégué, before he started his career at Banque Internationale à Luxembourg in the investment fund department.
Julien ZimmerDZ Privatbank
89
alfi brochures & publications
All ALFI Brochures & Publications can be downloaded from www.alfi.lu. To order paper copies, please contact [email protected].
alfi | association of the luxembourg fund industry
59, Boulevard RoyalL - 2449 Luxembourg
Tel: +352 22 30 26 - 1Fax: +352 22 30 93
The Association of the Luxembourg Fund Industry (ALFI), the representative body for the Luxembourg investment fund community, was founded in 1988. Today it represents over a thousand Luxembourg-domiciled investment funds, asset management companies and a wide variety of service providers including depositary banks, fund administrators, transfer agents, distributors, law fi rms, consultants, tax advisers, auditors and accountants, specialist IT providers and communications agencies.
Luxembourg is the largest fund domicile in Europe and its investment fund industry is a worldwide leader in cross-border fund distribution. Luxembourg-domiciled invest-ment structures are distributed in more than 50 countries around the globe, with a particular focus on Europe, Asia, Latin America and the Middle East.
ALFI defi nes its mission as to “Lead industry efforts to make Luxembourg the mostattractive international centre”. Its main objectives are to:
Help members capitalise on industry trendsALFI’s many technical committees and working groups constantly review and analyse developments worldwide, as well as legal and regulatory changes in Luxembourg, the EU and beyond, to identify threats and opportunities for the Luxembourg fund industry.
Shape regulationAn up-to-date, innovative legal and fi scal environment is critical to defend and improve Luxembourg’s competitive position as a centre for the domiciliation, administration and distribution of investment funds. Strong relationships with regulatory authorities, the government and the legislative body enable ALFI to make an effective contribution to decision-making through relevant input for changes to the regulatory framework, implementation of European directives and regulation of new products or services.
Foster dedication to professional standards, integrity and quality Investor trust is essential for success in collective investment services and ALFI thusdoes all it can to promote high professional standards, quality products and services, and integrity. Action in this area includes organizing training at all levels, defi ning codes of conduct, transparency and good corporate governance, and supporting initiatives tocombat money laundering.
Promote the Luxembourg investment fund industryALFI actively promotes the Luxembourg investment fund industry, its products and itsservices. It represents the sector in economic and fi nancial missions organised by the Luxembourg government around the world and takes an active part in meetings of the global fund industry.
For more information, visit our website at www.alfi .lu
alfiassociation of the luxembourg fund industry
UCITS IV
UCITS1 are now recognized as the only truly globally distributed investment funds. Luxem-bourg has successfully positioned itself as the global leader for cross-border distribution of investment funds, and today more than 75% of UCITS funds distributed internationally are based in Luxembourg.
A Luxembourg UCITS set up as a common fund (‘FCP’) must be managed by a ManCo. A UCITS investment company (e.g. SICAV) must also appoint a ManCo, unless it has designated itself as a self-managed investment company. UCITS ManCos are in charge of the investment management, administration and marketing of UCITS.
Under the current law of 20 December 2002 on undertakings for collective investment,
Luxembourg is Europe’s number 1 investment fund centre and the world’s leading hub for global fund distribution.
as amended, a UCITS, its ManCo and its custodian bank must be located in the same EU Member State and all three are subject to the legislation and supervision of that Member State.
However, as from July 2011, under the management company passport portion of the new UCITS IV legislation, UCITS may be managed by a ManCo authorised and supervised in another EU Member State. This offers very specifi c opportunities for existing ManCos in the EU as well as for ManCos still to be created.
Given Luxembourg’s expertise, experience and its leading position in global fund distribution there are many good arguments in favour of Luxembourg as the location … for a ManCo.
March 2010
¹ UCITS is the acronym for “Undertaking for Collective Investment in Transferable Securities”. It refers to European Directive 85/611/EEC dated 20 December 1985, which set up a single regulatory regime across the European Union for open-ended funds investing in transferable securities such as shares and bonds, with a view to defi ning high levels of investor protection and which has been implemented into Luxembourg law by the law of 20 December 2002 on undertakings for collective investment, as amended.
10 reasons for a Luxembourg management company
“ManCo”
manco_flyer_F.indd 1-2 23/03/10 16:53:49
master-feeder structures: made in luxembourg
UCITS IV
